Skip to main content

COVID-19 Alert Levels 2 and 3 All of our offices are closed under Alert Level 2 and 3. If you've been affected by COVID-19, we may be able to help. Find out more

Latest developments

Applications for the SBCS loan have been extended until the end of 2023. Applications opened on 12 May 2020 and can now be submitted up to and including 31 December 2023.

Small to medium businesses and organisations, including sole traders and the self-employed, not-for-profit organisations, partnerships, joint ventures and trusts, may be eligible for a  loan with a term of 5 years if they meet the eligibility criteria.

If you have an SBCS loan, we'll notify you or your tax agent in myIR or by letter ahead of key events, such as:

  • interest accruing if the loan is not repaid in full within 2 years
  • the start date for regular loan instalment payments.

Businesses or organisations that have fully repaid their loan before the end of 2023, can re-borrow one further time. This is provided they meet the other eligibility criteria at the time they apply to re-borrow.

The eligibility for those applying for the SBCS  loan has been expanded to include the following.

  • You've been in operation for at least 6 months before applying.
  • You've experienced at least a 30 percent decline in revenue, due to COVID-19, over any 14-day period in the previous 6 months, compared with the same 14-day period a year ago.

Eligible businesses and organisations

Immediate support to small businesses and organisations

The SBCS loan was introduced to support businesses and organisations struggling because of loss of actual revenue as a result of COVID-19. They must have 50 or fewer full-time-equivalent employees.

We will administer the payments and repayments of this scheme. Applications are open until 31 December 2023.

Eligible businesses and organisations which submit an application for a loan and meet the eligibility criteria may be entitled to a loan. The maximum amount loaned is $10,000 plus $1,800 per full-time-equivalent employee.

The annual interest rate is 3% beginning from the date of the loan being provided. Interest will not be charged if the loan is fully paid back within 2 years.

You can read the terms and conditions below.